Question

Question Help Hal Sully manages a Frosty World drive-in. His straight-time pay is $16 per hour, with time-and-a-half for hours in excess of 40 per week. Sully's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $10 for a charitable contribution to United Way. Sully worked 56 hours during the week. O (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 1. Compute Sully's gross pay and net pay for the week. Assume earnings to date are $16,000. (Round all amounts to the nearest cent.) Begin by computing Sully's gross pay for the week. Gross Pay

Answer 1

Answers Page No ① O Grow pay and a net to pay for the week an Gon Pay Gross pay = . Regular pay + Overtime :.= (40 hours fwerk x $16 per hown + ((56 - 40 hours * $ 16 per hower X 15) = 640 + 384 2. $1024 1. Gross pay = $1024 Het to pay Gross pay = $ 1094 Income tax withheld a 1024 X 30% = $307:2 $307 OASDI = $1024X 6+2% 3.$63.488 $ 64

Medicare faxes = $1024 X 1,45 %. 7 Page No ③ = $14,848 ñ $15 Onited way payable - $10 Net pay = $1024 - 30762) - 63.488–14.848 - 10 . = $6281464$ 628 1. Net pay = $6281 @ Jemnal entry to you forosty could's ways openze acerual theo Suely is worth Particular Debit Credit Salaries expenses $1024 federal lo come tax withholding I payable OASD? taxes payable Medicare taxes payable united way payable Salaries payable

☺ Page No ③ Jewing te contains they subrequent payment of cookies to susly Debit Credit Particular Salaries payable . Cash $ 628 $628